Granite Wash Shale in the US, 2013

Tuesday 6 August 2013, Amsterdam

Granite Wash Witnessed Increase in Gross Oil Production and Decrease in Gross Natural Gas Production in 2012 when Compared to 2011. The gross oil production in Granite Wash increased from 2.8 million barrels (mmbbl) in 2011 to 4.1 mmbbl in 2012, an increase of 47%. On the other hand, natural gas production in the region decreased from 372.3 billion cubic feet (bcf) in 2011 to 297.2 bcf in 2012, a decline of 20.2%.

During the 2004-2012 period, oil production in Granite Wash increased from 0.54 mmbbl in 2004 to 4.10 mmbbl in 2012 at an Average Annual Growth Rate (AAGR) of 25.5%. The natural gas production in the region also increased from 62.8 bcf in 2004 to 297.2 bcf in 2012 at an AAGR of 19.4%. Granite Wash witnessed a decline in natural gas production in 2012, for the first time in the historic period 2004-2012.

Stiles Ranch (Granite Wash Cons) was the Leading Production Field in Granite Wash for 2012 - In 2012, 81 fields in the Granite Wash play produced approximately 64.8 mmboe of oil, casinghead gas, natural gas and condensate. Of the 81 fields, Stiles Ranch (Granite Wash Cons) accounted for the majority the total production at 31.6% or 20.5 mmboe in 2012. Buffalo Wallow (Granite Wash) was the second-largest producing field in Granite Wash for 2012, at 9.6 mmboe.